The $50k Challenge Update 5 – 15th/16th August 2019
Stock Code: HMX
Shares Purchased: 174,936
Share Price: 0.026
Stock Code: HMXOD
Shares Purchased: 353,000
Share Price: 0.015
Reason for Buying:
1) Directors own 13.5% of the register. A further 26% of the register held in 3 other hands.
2) Low market Capitalisation and Enterprise Value considering sector and peers
3) Drill rigs have been mobilised to drill for Gold. POG continues to increase and looking bullish in the medium term.
4) No cash or equity raising requirements in the near future
5) Lease is in close proximity to other major leases and mines. See investor presentation released on the asx in July 2019 for a detailed review of the lease.
6) company has taken a very methodical approach to drilling and identifying targets.
Risks:
1) heavily dependant on successful drilling results.
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